**September Selling Imbalance**

Algorithmic trading funds have about **$9 billion** left to buy if stocks rise, but could be forced to sell up to **$163 billion** if markets fall. That is an **18-to-1 imbalance** between upside support and downside pressure.

Companies are also entering their **September buyback blackout period**, when they cannot legally repurchase their own shares ahead of earnings. That removes another major buyer at the same time.

Together, the market has **limited support for a drop**, but significant selling capacity that could make one worse.

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